overview who from followed will our welcome full highlights the XXXX, our XXXX. our by XXXX to Sapiens’ and outlook review results like and with review Thank year give for performance in Roni you, and progress today Tally. I results. fourth I everyone Giladi financial an financial to call will to of our would financial quarter begin
of fourth another year they team’s begin, and brief operating results. in global result on comment benefit on in the outstanding our the finish of to with continue profit despite attrition sectors in face. condition, financial would global excellence and delivery half Often the year the higher market on note, last results. going revenue congratulate industry efforts like a par XX.X% to and the many under our maintained record XXXX. my strong We $XXX.X for to Before year job of in team did Starting quarter I than I challenging employee Sapiens the on million increase revenue of customers. with profitability XXXX, with XX% costs and which normal second the
XX.X% who product our we quality consistent direct delivered full revenue our with margin profitability to by lines and strategy. generation. of approach talented For global our record validate operating customer $XXX.X together delivered These centric the Sapiens million increase gross diversity and and the are year, an XX.X%. cash team long-term of outcome results of
priorities to across existing product expand of and exceptional strategic their providing our for value the with and offering, and clients and expansion Our are innovation land both geographically our platform our approach success lifecycle. customer our continues
elements with All numerous growth of strategic these us levels. provide
one-hand-to-shake our on model. execute to business continue We
robust with of us time delivery, revenue. significant and to committed approach we a model insurance successful digital from value services. services allowing quality in At cloud a Our us, high benefit percentage combines delivery. cloud-based to as are our take to value program with the platform customer revenue managed model model brings This same brings to a professional this recurrent
maximize fuel to platform changes the our can to and X.X% key XXXX compound customer we with over new delivered relationships profit evaluating success have to leverage annual long-term our strategic than of our future in markets. business XX in Currently, from growth to operating distribution past double XX% XX.X% of more our the We ways that XXXX. model annual is growth. are acquisition revenue result or in years additions exploring Out
with result, a segments for for system global leading our specific we businesses. integrators partnerships a few are initiating As
interest. We by are in of encouraged the early stages of and we this level conversation the are
to the grow the and it new current increase in region. Looking Europe while Tier segments execute growing regional XXXX. interest substantial XXXX to P&C challenges starting making that multiple in logos increased of various with engagement face in Life growth continue to X, deal global in Sapiens will Shifting businesses and best region. the Revenues experienced to this in transactions. XXXX for in and environment. size in we our growth leading performance trends we the XXXX navigating continue the We across the was robust our in Europe. ahead and our Important saw a region and increasing are XX.X%, year the XXXX for the and X Sapiens we in signed average with projected the
seeing These of trends are we deployed market. European that the product recognition by in Celent Sapiens traction from Sapiens. key a our industry continuous recognition advantage The multiple across territories. to analyst addition, We Gartner emphasize In and competitive that and seeking seven further single be offering can gain awards. global won differentiators carriers solution bring
were P&C. in of technology, together thank and with product Magic annuity Life In our fact, into vendor leader only the delivery experience and differentiation and recognized Life we excellence, Gartner’s for Quadrant growth We in a for P&C, and functionality Europe our one both the as the substantial capabilities.
long-term companies have building countries, with an across X including successfully in relationships where Tier is Second we European customers presence. established tiers,
references add growth. supporting continue in future We the our excellent region to
which Denmark, Sweden, acquisitions and which business are of example the Our Europe Bay recent land thanks Nordics, Portugal, and expand Norway which and acquisitions successful includes also to Switzerland, our the Spain Austria include in and accelerate, Area, and DACH Germany, Finland. These strategy. include the in
growth integration we customer employees of local pipeline Tia Our market the brings business. In customers. robust product, influential expansion XXXX, and reference benefits our presence, completed across promoting and and
will the to Nordics. market growth our customers Tia’s increasing which Sapiens XXXX. in in enjoying from interest our presence we We tremendous already benefits are acquisition, in enhance which the showing contribute anticipate strong offering,
we the have businesses. growing and market, successfully Tia business. with region, As this margin new strategic profit acquisitions, contribution combination the pipeline by growth of speaking growth building we this P&C organic the our closed and XXXX. German for to of customers acquisition addition for our improved of businesses pipeline presence, supported delivery, in local have contributes In is successful are investment In sum.cumo
to core cloud selected transformation with mature APAC. X will non-life momentum with Thailand’s from BKI, by in in to can we Sales was positive for in Our Africa, tiers X South representing BKI largest and digital that lengthily the claims and leading significantly their life Sapiens Sapiens higher customers. and expect selected and products. Europe Sapiens legacy a of is engagement APSA, decision, multiple digital lowered one BKI.\ solutions annuity and advanced they transformation and process be Tier operating pattern Tier Africa accelerate growing for two in to to innovation from was In product these in In market a by launching South their its show costs, which full the full system financial XXXX. continue of underwriting insurance deployed insurance growth. South native improve we one and solution expect well largest institution Africa’s digital the and In APAC APAC, recognition, mature we regions enjoy XXXX. continue deals in traction Also markets,
the half Jamie with the across region, Now, have can we we scaling continuously delivery. North of people, second capabilities improved team. that foundation team let on improving, optimistic and is North accelerating practices. of who XXXX. in a growing joined growth businesses have delivery Under is P&C stronger we and and The organization growth higher deliver update North our built me professionals up pipeline have America. in for we a products leadership built move caliber Overall, that our are the to America the In America is Yoder, strong the and
score expect We wins market new XXXX. in being see to The America revenue market after P&C recover U.S. and impacted growing slowdown. is by in employment starting North later to the our businesses working
America. reengaged team life half Our are annuity XXXX. is regaining pleased traction again to in North I of gaining am anticipating that we is say the in business our momentum and and second
producing across edge with life were platform both cost is Our component. with capabilities. solution investments are components to Galvin cutting and and product Sapiens our Insurance analytic results an example underwriting excellent provide solution implemented
life CoreSuite we annuity and is perform QX last stage the process for full blueprint were with a is also for XXXX selected the growing before carriers, closure. which and in deal to pipeline Our American North
process transform validation business, to platform are the like, continue market. am at the our XXXX. XXXX. reinsurance that a life in select value of can and America Companies, XXXX of and with decision team to this revenue the management. pipeline of solid our We win Physicians important to Physicians quarter reinsurance to and achieving solid wins brand processing replace in growth confident for level. cloud. and deliver process and a and one reinsurance on encouraged XXXX, the steadily, a move GUARD, annuity Sapiens announced North pipeline ReinsurancePro deployed Hathaway We our an decision see Insurance I demands that part our for building automate Berkshire to efficient and third carriers grow to Other the solid businesses In towards legacy it build
ongoing globally, is commitment of in XXXX, I businesses. saw in let’s before our look R&D. product top priorities retail. started in On product from improve capital Again, platform how innovations one the new allocation is in lending our that Sapiens’ we innovation to
native along with our decision enhanced in with solutions for We scalability XXXX few investment consistently proposition. and Today growth have offering Our Sapiens increasingly our performance. cloud years, over platform, cloud customer digital reflecting cloud past the and greater levers our are our offering our
a and their services. to from access XXXX driven from agility primary the KWS our global large our for to delivery XXxX our assure Specialty chose stability legacy customer to benefiting native cloud legacy advanced and on XX% our development We digital goal cloud an This KW multi-phase product Pan-European cloud. to solution recurrent and a excellent result, Therefore, functionality upgrade is experience with allow live innovation delivered of is managed of A adapt clients. reinsurance replace ability Sapiens excellent now to revenue. will and a is additional quickly. evolution example the vision Germany new the deliver would follow. customer deliver our the which product them is This solution strategy European first on with go As Hiscox Hiscox’s and live that special significant to line a In management an to in cloud for KWS and to of for Hiscox competitive their on improvement the and market on October tools our the focus to to products edge. recurring company. a five offering. spreadsheet of key expand expand ongoing is of cloud, are multi-platform deals benefit was of countries insurer. multinational increase relationship moving went build on and platforms
Our with wide pre-integrated digital suite as as advanced can of system. a rapidly model, or digital includes core a core our module range a their together standalone across solution. agnostically deploy our existing solution solution Companies digital
and sell efficiency policies example, pipeline, Copic to ability For selected to and digital in Sapiens on customer provide Copic fronts, suite its the employee services values experience live staff real-time. Insurance customer increasing to and Sapiens quality processes. manage improve multiple agent while high
fully innovation feature can leads advanced allow with to automation. machine markets is analysis in Customers and analytics low create driven predictive that the code/no our data platform enable from business benefit capabilities and move code configurable processes. into our can to the customers Another our businesses real-time new that analytics learning approach digital rapidly process
sources disruptive mentioned analytics, predictive enhanced underwriting life best I Galvin and Sapiens we long-term process. leverage was solution. innovation Their selected part intelligent insurtech our smartly of API seamless practice They AI. to a promoting the partner technology announced that integration. their customer health to value automate and As their chose Galvin and data open underwriting we insurance Sapiens that accelerate extensive various Group customer, provide delivers architecture and of through ecosystem the proposition also Sapiens Sapiens to earlier,
few past won business and by response Sapiens traditional rules the substantial regulatory Tier and we to In several market growth, insurance financial Tier institution is X carriers enable modernize into X Our used quick years, change. management with to decision the market. contracts penetration have have the decision
our and well experience vast Ilan cloud as in and his recently As both Technology client part and of announced Buganim. technology develop position digital solution Sapiens, technology cloud was our across Ilan, a new Information Ilan coherent views on increase side. lead innovation, and our services numerous from product At brings journey Officers, a as leadership provider Chief will offering. focus offering,
their means positioned expectation in changing Looking digital to primary to global ahead system of is must to well modernize XXXX, continue customer the to remain accelerating that Sapiens market. transformation its grow trends insurance and competitive.
pipeline in with we into Europe even In half return to a to leverage a moving our XXXX, second deals XXXX. the businesses few North deal to momentum with in closing. groundwork in strongest done will the large customer of our growing P&C to continue highest the growth We record America, have and in XXXX and
the rapidly on customers, which brings. digital market We our bigger scope critical is hand market. deals, partner in that provided solution have experiencing other momentum positive two wins closing growth our costs is innovation market. big resignation are of said, these able new collaboration in software global and Sapiens our life size with are multiple be we can deliver improvement and That to we employment from rise that the reinsurance successfully deals. in last, cannot earn in Together have changing In we is won expanding the ecosystem talent XXXX insurance of North one pleased cloud. and America. be the in in with continues we confident stay challenges that to challenge longer. same the being of are the of close these majority ignore the the annuity customer to Ongoing ongoing our the project. recent the We deliver from analysts and awards deliver helps process Sapiens with and still decision competitive the with with deals, of customers the and traction employment And facing, XXXX product transformation on in hand. should industry and order can the the gain In most success
and plans partners these our and hallmarks to and our profitability we building generation are global are of high building. growing leveraging Growth, are network cash presence, address shore Sapiens. offshore mitigation challenges, We near location
execute our insurance deliver global and improve to committed ongoing shareholder the We and growth in market recognition our footing success. proposition remain solid us to Our continuous position of value for value. strategy
Roni? Now the CFO. to call I would to like our turn Giladi, Roni
